Badili, a Kenyan-based start-up specializing in the refurbishment and resale of mobile phones has procured an undisclosed amount of seed funding from E3 Capital. The funds will be used to expand Badili’s operations across East Africa.
Launched in 2021 in Kenya, Tanzania, and Uganda, Badili recycles, fixes, and relaunches used or faulty phones via notable e-commerce platforms, local partners, and Mobile Network Operators (MNOs).
Despite selling devices at a lower cost compared to new models, the platform ensures high-quality products from leading smartphone brands. Prior to this, Badili had secured a pre-seed funding round and had participated in the 12th SOSV MOX accelerator, receiving $150,000 in funds.
The E3 Capital’s investment, facilitated through the E3 Low Carbon Economy Fund (E3 LCEF I), intends to further extend Badili’s reach beyond East Africa and enhance the region’s digital infrastructure by offering affordable devices to consumers.
Badili’s Co-founder and CEO, Rishabh Lawania expressed his delight at the partnership with E3 Capital, emphasizing the potential positive impact on their business and prospective African buyers seeking cost-efficient, eco-friendly electronics.
Paras Patel from E3 Capital reiterated the strategic alignment of the investment with E3’s commitment to digital innovation and environmental sustainability. He highlighted Badili’s contribution to reducing CO2eq emissions by 87% compared to new phone models, reflecting positively on the climate impact of the start-up’s business.
Patel also commended Badili’s swift growth and partnership developments within various ecosystems in Kenya, Uganda, and Tanzania.
1 Comment
Pingback: Hohm Energy secures $8 million seed funding to address load shedding in South Africa - Innovation Village | Technology, Product Reviews, Business